OK,maybe it shouldn't be called a fiasco,but a Canadian ATPL licence holder can't show you more than a four wedge piece of paper stating your address and name on it with your endorsments.
Funny ... I just checked the multiple wedges on the JAA compliant licence sent to me by the UK CAA and the only item of identification that was on their licence and medical that wasn't on the TC licence and medical was my place of birth. I'm sure having that recorded immensely improves safety and security.
Now, my FAA licence does mention height, weight, hair and eye colour, but then it was issued 13 years ago so tell me how much that's worth?
While we're at it, all my Korean licence has is my citizenship and a long expired passport number, and the Indian one ... well, if I told you that it was a photocopy of a fax would I need to say anything else?
As J.O. says the TC licence is being redesigned, but it's clear that the problem (such as it is) lies with ICAO's standards not TC's.